Skip to Content

How to Become a Successful Franchise Consultant

Becoming a consultant in any field in life is all about being well grounded in that area. If you are good with research and you have sound business skills, you can become a consultant in any field of your choice. If you are looking for any business to do and you posses at least the two basic skills listed above, then you should think towards establishing your own business as a franchise consultant.

If you take out your time to interview aspiring entrepreneurs, you would realize that a good chunk of them would not mind buying a franchise from an existing company that has proven to be a success as against going through the stress of starting from the scratch.

The fact is that most people who would have preferred buying franchise might not know how to go about it and that is the reason why it is needful to start a business as a franchise consultant and then position the business to attract aspiring entrepreneurs.

The basic thing you need to do to become a franchise consultant is to understudy how franchise works, establish a good working business relationship with companies and multinationals that sells franchise (McDonalds, KCF et al), and then you should know how to market the concept of franchise to both aspiring entrepreneurs and established business men and women who are looking for ways to invest in new business opportunities. Now Let us quickly go through the 7 surefire tips that can help you become a franchise consultant;

Become a Licensed Franchise Consultant – Legal Requirement

1. Get a College Degree in Business Management Related Courses

To start with, you just have to get a good degree in Business Administration, Marketing or any business related course. As a matter of fact, an MBA and other professional certification will be to your advantage if your desire is to become a franchise consultant.

The truth is that, once you introduce yourself to anybody as a consultant, the first thing they would want to know is your level of education before they can take you serious. So, ensure that you have a degree in any business related course and also some professional certifications before launching out in your quest of becoming a franchise consultant.

2. Get a Grip on How Franchise Work

Getting a grip on how franchise work means that you would have taken sufficient time to study all you could possibly find about franchise and also you would have worked and gathered experience from a company that sells franchise or a franchise consultancy firm.

The truth is that becoming a franchise consultant means that you should be able to give companies and even investor’s adequate information that will guide them. It could be information that will guide them on how to franchise their business, or information on the best time to buy franchise and the area where it is needful to buy franchise. Just ensure that you are professional in your approach and your fees are affordable.

3. Register Your Business

If you know you are well grounded on how franchise works and you are sure you will make money in your city or country as a franchise consultant, then you should go ahead to register your business. Although, you can go through the process yourself and get your business registered, but if you know you don’t have enough time to spare, you can contract it to a lawyer to help you out with the registration of the business. The process might be shorter if it is handled by a lawyer.

4. Rent an Office Space

Although becoming a franchise consultant means that you can run your business from your home, but most people prefer running their business away from their homes due to obvious reasons. The good thing about this kind of business is that you don’t have to spend fortune renting an office space. All you need is just a small space to interface with your clients if the need arises, and also a place to operate from. If you don’t have enough startup capital, you can choose to share an office with someone – it is cheaper.

5. Expand the Scope of Your Network

Being in business is all about knowing the right people. You will be able to do pretty well as a franchise consultant if you know how to network with investors and business owners. It is important that you look for places where you can meet these set of people. Some of the places you can find the kind of people you would want to do good business with are in places like clubs or sport centers where they play golf, squash, lawn tennis et al. You can as well join any association that brings together big time business men and women.

6. Print Your Business Card

Being at the right place at the right time might not necessarily translate into business open doors for you if you fail to do the right thing. When going for any function that you know you are likely going to meet with business people, it is important that you leverage on such platforms to introduce yourself and the business you do. One of the easiest ways for people to know the business you do is when you give them your business card. That is why it is very important to ensure that your business card clearly indicates the kind of business you are into, and how you can be contacted.

7. Go Out There and Look for Business Deals

Part of what you need to do to secure business as a franchise consultant should not just be restricted to giving out your business cards to people in every function you attend. You also need to be deliberate in searching for business deals. Your interest should be to source for companies who want to sell their franchise and also look for investors and entrepreneurs who are looking for franchise to buy. You duty is to connect them and then you will make your money. You can as well make money by rendering advisory services.

There you have it; the 7 surefire tips to follow to become a franchise consultant.